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Cryptoknowmics 2022-01-15 06:36:06

DCR Technical Analysis: Bulls Struggle to Sustain Post-Breakout Pressure: Will It Reach $100?

DCR coin price action gives a bullish breakout of the falling wedge pattern with a 1500+% jump in trading volume teasing a bull run above $100 shortly. Decred is a cryptocurrency based on blockchain that was introduced in February 2016. DCR token and the protocol behind it were created to promote an open and democratic governance system. It is designed so that the community has the authority to approve any changes or transactions made to the protocol. Therefore, there is no way for the large Decred holders to influence the functioning of the system. The driving force for the founding of Decred is that it is an organization known as Company 0. Its purpose is to harness blockchain technology to provide better security for personal data and allow organizations to be more flexible in their projects. Let us move ahead to read about Decred technical analysis. Past Performance of DCR DCR coin price shows a growth of more than 25% in the past 24 hours with a jump of 1650% in the intraday trading volume. Thus, resulting in a huge bullish engulfing candlestick in the daily chart. Moreover, the increasing prices result in the long-coming wedge pattern breakout. DCR/USD Daily Chart DCR Technical Analysis The DCR coin price finds demand near the support zone at $60 resulting in the price jump and the breakout of a long-coming resistance trendline. However, the resistance zone of $100 is a high selling pressure area that can be hard to over...

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